INSURANCE SECTOR - sudaup.org

1

CCCooommmpppeeettteeennncccyyy BBBaaassseeeddd DDDrrraaafffttt CCCuuurrrrrriiicccuuulllaaa

fffooorrr

SSShhhooorrrttt TTTeeerrrmmm CCCooouuurrrssseeesss bbbaaassseeeddd ooonnn

MMMoooddduuulllaaarrr EEEmmmpppllloooyyyaaabbbllleee SSSkkkiiillllllsss (((MMMEEESSS)))

iiinnn

INSURANCE SECTOR

DIRECTORATE GENERAL OF EMPLOYMENT AND TRAINING

MINISTRY OF LABOUR AND EMPLOYMENT GOVERNMENT OF INDIA

2

CC OO NN TT EE NN TT SS

1. Background ............................................................................... 3

2. Frame Work for Skill Development based on MES ................... 4

3. Age of Participants .................................................................... 5

4. Curriculum Development Process ............................................. 5

5. Development of Soft Skills/ Core Competencies ....................... 6

6. Duration of the Programmes ..................................................... 8

7. Pathways to acquire Qualification .............................................. 8

8. Methodology .............................................................................. 8

9. Instructional Media Packages .................................................... 9

10. Assessment ............................................................................... 9

11. Certificate .................................................................................. 9

12. CourseMatrix………………………………………………… ........ 10

13. Module on Insurance Sales Advisor ........................................ 11

14. Module on Senior Sales Person (Non-Life Insurance) ............. 14

15. Module on Senior Sales Person (Life Insurance) ……………17

16. List of members of Trade Committee…………………………… 20

3

Skill Development based on Modular Employable Skills (MES)

Background

The need for giving emphasis on the Skill Development, especially for the

less educated, poor and out of school youth has been highlighted in various forums.

The skill level and educational attainment of the work force determines the

productivity, income levels as well as the adaptability of the working class in

changing environment. Large percentage of population in India is living below

poverty line. One of the important causes is lower percentage of skilled persons in

the workforce

The skill development at present is taking place mostly in the informal way,

i.e. persons acquire skill at the work-place when they help their parents, relatives

and employers etc. Such persons do not have a formal certificate and thus earn

lower wages and are exploited by employers. They have come through informal

system due to socio-economic circumstances of the family and the compulsions of

earning a livelihood rather than attending a formal course. While their productivity

is low, their contribution to the national GDP cannot be ignored. If the country can

create a system of certification which not only recognizes their skills but also

provides education and training in a mode that suits their economic compulsions, it

will not only benefit the workforce to earn a decent living but also contribute to the

national economy by better productivity of this workforce.

Another related problem to be tackled is large number of students drop outs

(About 63% of the school students drop out at different stages before reaching

Class-X).

4

Frame work for Skill Development based on ‘Modular Employable Skills

(MES)’

Very few opportunities for skill development are available for the above

referred groups (out of school youth & existing workers especially in the informal

sector). Most of the existing Skill Development programmes are long term in

nature. Poor and less educated persons can not afford long term training

programmes due to higher entry qualifications, opportunity cost etc. Therefore, a

new frame work for Skill Development for the Informal Sector has been evolved by

the DGET to address to the above mentioned problems. The key features of the

new frame work for skill development are:

Demand driven Short term training courses based on modular

employable skills decided in consultation with Industry

Flexible delivery mechanism (part time, weekends, full time)

Different levels of programmes (Foundation level as well as skill

upgradation) to meet demands of various target groups

Central Government will facilitate and promote training while Vocational

Training (VT) Providers under the Govt. and Private Sector will provide

training

Optimum utilisation of existing infrastructure to make training cost

effective.

Testing of skills of trainees by independent assessing bodies who

would not be involved in conduct of the training programme, to ensure

that it is done impartially.

Testing & certification of prior learning (skills of persons acquired

informally)

The Short Term courses would be based on „Modular Employable Skills (MES)‟.

The concept for the MES is :

Identification of „minimum skills set‟ which is sufficient to get an

employment in the labour market.

5

It allows skills up-gradation, multi-skilling, multi entry and exit, vertical

mobility and life long learning opportunities in a flexible manner.

It also allows recognition of prior learning (certification of skills acquired

informally) effectively.

The modules in a sector when grouped together could lead to a

qualification equivalent to National Trade Certificate or higher.

Courses could be available from level 1 to level 3 in different vocations

depending upon the need of the employer organisations.

MES would benefit different target groups like :

o Workers seeking certification of their skills acquired informally

o workers seeking skill upgradation

o early school drop-outs and unemployed

o previously child labour and their familly

Age of participants

The minimum age limit for persons to take part in the scheme is 14 years but there is

no upper age limit.

Curriculum Development Process

Following procedure is used for developing course curricula

• Identification of Employable Skills set in a sector based on division of work in the

labour market.

• Development of training modules corresponding to skills set identified so as to

provide training for specific & fit for purpose

• Organization of modules in to a Course Matrix indicating vertical and horizontal

mobility. The course matrix depicts pictorially relation among various modules,

pre requisites for higher level modules and how one can progress from one level

to another.

6

• Development of detailed curriculum and vetting by a trade committee and by the

NCVT

(Close involvement of Employers Organizations, State Governments, experts,

vocational training providers and other stake holders is ensured at each stage).

Development of Soft Skills/ Core Competencies

Soft skills refer to a cluster of personality traits, social graces, facility with language,

and personal habits that make someone a good employee and a compatible co-

worker. Soft skills are also sometimes referred to as employability skills, generic

skills, key or core competencies. Soft skills complement hard skills, which are the

technical requirements of a job.

Soft Skills are integral to workplace competency and, as such, must be considered

in the design, customisation, delivery and assessment of vocational training

programmes in an integrated and holistic way, as represented diagrammatically

below.

Soft skills are very important in business. Soft skills are now recognised as key for

making businesses more profitable and better places to work. Increasingly,

companies aren't just assessing their current staff and future recruits on their

technical skills but also on a whole host of soft skills. Especially, Service economy

Competency

Standards

Curricula Assessment

On- the- job

training

Learning

Strategies

Training Delivery

Integration

of

Soft Skills

7

and the ascendance of work teams in large organizations put a new premium on

people skills and relationship-building. It is essential to be technically sound, but

one should also have the ability to convey the idea to the masses in the simplest

possible manner.

Hence, systematic efforts should be made to develop soft skills during the training

programme. Positive attitudes have to be developed in the trainees by properly

guiding them and setting up examples of good attitudes by demonstrated behaviors

and by the environment provided during training.

Some important soft skills / core competencies to be developed are:

1. Punctuality, discipline and honesty

2. Cordial relationship and Cooperation with co-workers and team Work

3. Positive attitude and behavior

4. Work ethics and dependability

5. Self esteem and confidence

6. Self-motivation and initiative

7. Flexibility/ adaptability

8. Communication Skills

9. Respect for rules and regulations

10. Concern for quality

11. Concern for health and hygiene

12. Responsibility and accountability

13. Care of equipment and tools

14. Safety consciousness and safe working practices

15. Learn continuously

16. Concern for environment and waste disposal

17. Ability to bear stress and work under pressure

Following competencies should also be developed during level-II and higher

courses:

1. Ability for planning, organizing and coordinating

2. Creative thinking, problem solving and decision making

8

3. Leadership, delegating, appraising, motivating

4. Negotiation

5. Time management ability

In addition to above, livelihood skills like how to apply for a job, facing an

interview, opening/ operating an bank account may also be covered.

Duration of the Programmes

Time taken to gain the qualification will vary according to the pathway taken and will

be kept very flexible for persons with different backgrounds and experience.

Duration has been prescribed in hours in the curriculum of individual module, which

are based on the content and requirements of a MES Module. However, some

persons may take more time than the prescribed time. They should be provided

reasonable time to complete the course.

Pathways to acquire Qualification:

Access to the qualification could be through:

An approved training programme; Or

A combination of an approved training programme plus recognition of

prior learning including credit transfer; Or

The recognition of prior learning that provides evidence of the

achievement of the competencies for the qualification.

Methodology

The training methods to be used should be appropriate to the development of

competencies. The focus of the programme is on “performing” and not on

“Knowing”. Lecturing will be restricted to the minimum necessary and emphasis to

be given for „hands on training‟.

9

The training methods will be individual centered to make each person a competent

one. Opportunities for individual work will be provided. The learning process will

be continuously monitored and feedback will be provided on individual basis.

Demonstrations using different models, audio visual aids and equipment will be

used intensively.

Instructional Media Packages

In order to maintain quality of training uniformly all over the country, instructional

media packages (IMPs) will be developed by the National Instructional Media

Institute (NIMI), Chennai.

Assessment

DGE&T will appoint assessing bodies to assess the competencies of the trained

persons. The assessing body will be an independent agency, which will not be

involved in conducting the training programmes. This, in turn, will ensure quality of

training and credibility of the scheme. Keeping in view the target of providing

training/testing of one million persons through out the country and to avoid

monopoly, more than one assessing bodies will be appointed for a sector or an

area.

Certificate

Successful persons will be awarded certificates issued by National Council for Vocational Training (NCVT).

10

COURSE MATRIX BASED ON MODULAR EMPLOYABLE SKILLS

(MES) FOR INSURANCE SECTOR

LEVEL - 2

Insurance Sales Advisor

Senior Sales Person (Non-

Life Insurance)

Senior Sales Person (Life

Insurance)

LEVEL -1

11

MODULE – SALES PERSON (LIFE AND NON-LIFE INSURANCE)

Name : INSURANCE SALES ADVISOR

Sector : Financial Sector – Insurance

Code : INS101

Entry Qualification : 10th Standard.

Terminal Competency : After completion of training and

passing the requisite examination,

the trainee will have the necessary

knowledge and skills of selling

insurance products and will be able

to work as Insurance Sales Advisor

for various private as well as PSU

insurance companies, Brokers,

Corporate Agents, NGOs and Micro

Finance Cos.

Duration : 150 hours for composite training of

life and non-life insurance. PRACTICAL TRAINING UNDERPINNING KNOWLEDGE

(THEORY)

Introduction to some of the actual

products available in the market by

providing sample copies.

Visit to various service providers to

have ‘feel’ of the actual working

and procedures.

Role plays –Service providers,

Intermediaries and insuring public

(customers).

Role of I.T. and computers in the

insurance working and providing

hands on experience.

Identifying computer software used

in insurance working.

COMMON FOR BOTH LIFE AND

NON-LIFE INSURANCE

Orientation to Insurance concept

and Industry.

Meaning, purpose and need of

Insurance.

Concept of Risk, its assessment and

transfer.

Principles of Insurance and their

application to Life Insurance in

particular.

How contract of Insurance is

different from other commercial

contracts.

Process of Insurance and how it

works.

Insurance marketing intermediaries,

their role and legal implications –

Agents, Corporate Agents and

Brokers.

Legal and Regulatory aspects –

12

Introduction to claim documents

and sample claim files.

Group activity and discussion to

understand the concept and

procedures.

Writing the Agents Confidential

Report (ACR)

Understanding the purpose of a

proposal form and how to fill it

Physical aspect of risks and its

verification, survey, assessment

and reporting

Physical verification of various

insurance related documents like

documents to prove age, Driving

Licence, Motor Vehicle

Registration Book, proof of

insurance interest etc.

Insurance Act 1938, IRDA Act

1999, various regulations issued by

IRDA etc.

LIFE INSRUANCE

Concept of Premium and Bonus and

premium calculation.

Role of actuary and actuarial

valuation.

Life Insurance Products –different

types and rationale for variation,

riders, annuities, group insurance,

special schemes etc.

Underwriting –meaning,

importance and process. Also

medical and non-medical

underwriting.

Assignment of risk.

Introduction to various insurance

documents, their importance and

legal implications.

Understanding the Policy document

and its terms and conditions.

Concept and implication of

assignment and nomination.

Insurance Claims – procedure

(including rationale behind it) and

relevant documents.

Unit linked Insurance Products –

concept, features, types etc.

NON-LIFE INSRUANCE

Concept of Premium, loading,

discount and Bonus and premium

calculation.

Non - Life Insurance Products –

classification i.e. Fire, Marine and

Miscellaneous.

Introduction to Fire Insurance and

Claim Procedure.

Introduction to Marine Insurance

and Claim procedure.

Introduction to entire range of

Misc. Insurance other than Motor

and Health. Claim procedure.

Motor Insurance and claim

procedure.

13

Health Insurance and claim

procedure including role of TPA.

Package policies and rationale

behind the concept.

Micro-Insurance.

Underwriting –meaning,

importance and process.

Introduction to various insurance

documents, their importance and

legal implications.

Broadly understanding the policy

documents – its lay out scheme and

terms and conditions.

Conceptual selling and prospecting

Communication and its tools

Effective personality and building

lasting relationships.

TOOLS AND EQUIPMENTS

EQUIPMENTS/TOOLS REQUIRED FOR CLASS ROOM

Computer : 1

LCD Projector : 1

Projection Screen : 1(size 8/6) ft

White/Black Boards : 1 (size 8/5) ft

Flip Chart Holder : 2 Nos

Public Address System (PAS) : 1 set of collar mikes,

amplifier, sound box,

standing mikes etc

Classroom chairs with writing boards : 40


(Note: - For practical classes the students will have to be taken to the operational offices

of insurance company with prior arrangement.)

Display Poster of Various sizes of different companies : 10

Types of sales literature, pamphlets, brochures, proposal

forms, prospectus forms etc. : 100

Kit Bags for each candidate : 40

Study material, writing pad, pen and calculation charts : 40

14

MODULE – SENIOR SALES PERSON (NON-LIFE INSURANCE)

Name : SENIOR SALES PERSON (NON-LIFE INSURANCE)

Sector : Insurance Sector

Code : INS202

Entry Qualification : 10th

Std. + INS101

Terminal Competency : After completion of training and passing the requisite

examination, the trainee will have the necessary knowledge

and skills for leading insurance sales teams and developing

insurance target market and will be able to work as Sales

Team Leader for the Non-Life Insurance Companies,

Insurance Brokers, Corporate Agents, Corporate Clients,

Insurance Intermediaries, NGOs dealing with insurance,

Micro-Finance Companies selling micro insurance etc.

Duration : 250 hours certificate course

PRACTICAL COMPETENCIES. UNDERPINNING KNOWLEDGE

(THEORY)





have a ‘feel’ of the actual working

and procedures.



(customers).


insurance working and providing

hands on experience.

Identifying computer software,

hardware and peripherals used in

Principles and Practice of Risk

Management

Concept of Insurance and its role in

Risk Management

Introduction and History of General

Insurance

Principles and Practice of General

Insurance

Legal and regulatory aspect of

Insurance

Changing Insurance environment

and Market Profile

Law and Business of Insurance

Fundamental Principles of

Insurance as applicable to General

Insurance and its affect.

The concept of Underwriting and

15

insurance working.

Introduction to underwriting documents

and sample proposal forms, cover

note, prospectus, certificate of

insurance, policy documents etc.

Role play for Risk Assessment,

underwriting, rating and issuance of

policy documents.


understand the concept and

procedures of selling insurance and

running a network of service

providers.

Developing insurance selling kits and

insurance charts for helping the

sales force in selling an idea to the

clients.

Understanding and planning the

insurance agents commission

structure and the frequency of its

payment to keep the insurance force

motivated.

Designing an incentive scheme

Designing a programme for target

selling and the ways of prospecting

new clients.

Addressing customer’s gatherings and

sales teams.

Preparing sales bulletins and charts.

the process of underwriting.

Market Research and New Product

Development

Theory and Practice of Marine

Insurance (Cargo)

Theory and Practice of Property

Fire and Fire Loss of Profit

Insurance

Principles & Practices of

Automobile/Motor Insurance

Theory and Practice of Engineering

Insurance

Theory and Practice of Other

Miscellaneous Class of Insurance

Principle and Practice of Health

Insurance

Theory and Practice of Rural,

Agricultural and Micro Insurance

Introduction to Credit, Liability,

Oil, Energy, Aviation and Other

Specialized Insurances.

Risk Inspection, PML calculations

and Fixing of Sum Insured

Sales operations and Distribution

Channels

Concept and importance of

Reinsurance

MIS and IT Application to

Services Marketing and

Customer Relationship

Management

Effective team management,

motivation and group dynamics

Effective communication and tools

of communication

Conceptual selling and the art and

science of selling.

16



Computer : 1

LCD Projector : 1




Chairs with front writing boards : 40 numbers

Public Address System (PAS) : 1 set of sound boxes, amplifier,

collar and stand mikes







Executive Bags for each candidate : 40


17

MODULE – SENIOR SALES PERSON (LIFE INSURANCE)

Name : SENIOR SALES PERSON (LIFE INSURANCE)

Sector : Insurance Sector

Code : INS203

Entry Qualification : 10th

Std. + INS 101

Terminal Competency : After completion of training and passing the requisite

examination, the trainee will have the necessary skills and

knowledge for leading insurance sales teams and developing

target market for insurance, and will be able to work as

Sales Team Leader for Life Insurance Companies,

Corporate Agents, Corporate Clients, Insurance

Intermediaries, NGOs dealing with insurance, Micro-

Finance Companies selling micro-insurance etc.

Duration : 250 hours certificate course

PRACTICAL COMPETENCIES. UNDERPINNING KNOWLEDGE

(THEORY)





have a ‘feel’ of the actual working and

procedures.



(customers).


insurance working and providing hands

on experience.

Identifying computer software,

hardware and peripherals used in

insurance working.

Introduction to underwriting documents

Principles and Practice of Risk

Management

Concept of Insurance and its role in

Risk Management

Introduction and History of Life

Insurance

Principles and Practice of Life

Insurance

Legal and regulatory aspect of

Insurance

Fundamental Principles of

insurance as applicable to Life

Insurance and its effect.

Changing Insurance environment

and Market Profile

Law and Business of Insurance

18

and sample proposal forms, Agents

Confidential Report (ACR), prospectus,

policy documents etc.

Role play for Risk Assessment,

underwriting, rating and issuance of

policy documents.


understand the concept and procedures

of selling insurance and running a

network of service providers.

Developing insurance selling kits and

insurance charts for helping the sales

force in selling an idea to the clients.

Understanding and planning the

insurance agents’ commission structure

and the frequency of its payment to

keep the insurance force motivated.

Designing an incentive scheme

Designing a programme for target

selling and prospecting.

Addressing customer’s gatherings and

sales teams.

Preparing sales bulletins and charts.

Market Research and New Product

Development

Elements of Actuarial Science

Application of Life Insurance

Life Insurance Underwriting and

Insurance Documents

Life Insurance Plans

Group Insurance, Health Insurance,

Pension and Other special need

plans

Unit Linked Insurance Plans (ULIP)

Pricing, Premium and Benefits

Sales operations and Distribution

Channels

Legal aspects of Life Insurance

Life Insurance Finance

Claims Management and

Reinsurance

MIS and IT Applications

Services Marketing and Customer

Relationship Management

Effective team management,

motivation and group dynamics

Effective communication and tools

of communication

Conceptual selling and the art and

science of selling.

Market segmentation and target

marketing

19



Computer : 1

LCD Projector : 1




Chairs with front writing boards : 40 numbers

Public Address System (PAS) : 1 set of sound boxes, amplifier,

collar and stand mikes







Executive Bags for each candidate : 40


20

LIST OF MEMBERS OF THE TRADE COMMMITTEE

1. Mr. Masood Wahab, Chief Manager, OIC Member

2. Mr. Mithilesh Sinha, Manager, OIC Member

3. Mr. Dinesh Kumar Vaishnav, Manager, OIC Member

4. Mr. A.K. Ambashta, SBM, LIC Member

5. Mr. Imteyazul Haque, AO, UIIC Member

6. Mr. Sunil Gupta, Joint Director Training, RDAT Member

7. Mr. Partap Singh, Training Officer, RDAT Member

INSURANCE SECTOR - sudaup.org

Documents

Transcript of INSURANCE SECTOR - sudaup.org